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HDFC, Yes Bank pay higher advance tax for Q2, FY11

HDFC, Yes Bank pay higher advance tax for Q2, FY11
PTI
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First Published: Wed, Sep 15 2010. 02 48 PM IST
Updated: Wed, Sep 15 2010. 02 48 PM IST
Mumbai: Home finance major HDFC has paid around Rs 400 crore as advance tax for the second quarter of the 2010-11 financial year, vis-a-vis Rs 320 crore in the year-ago period, a source said.
This translates into an increase of 20% in the amount of advance tax the lender paid this fiscal vis-a-vis FY10.
Meanwhile, private sector Yes Bank paid 81 per cent more advance tax in FY11, at Rs 105 crore, as against Rs 58 crore in the year-ago period, the bank said in a statement here today.
The higher advance tax paid by the two lenders in Q2, FY11, indicates that the sector is geared to give a healthy performance this fiscal.
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First Published: Wed, Sep 15 2010. 02 48 PM IST
More Topics: Advance Tax | HDFC | Yes Bank | Q2 | Money Matters |